Although Ford has recently confirmed that Aston Martin is up for sale, they made a point of saying today that the rest of its premium brands, are not. Jaguar, Land Rover and Volvo are not part of the fire sale at Ford just yet. With the new, almost-as-sexy-as-an-Aston XK coupes and convertibles starting to find their way into dealerships, Jaguar in particular is looking good for the time being, despite being one of the biggest financial thorns in Ford's side.
Ford's announcement was made to financial analysts by Lewis Booth, head of Ford of Europe and the Premier Automotive Group (PAG), which oversees the overseas Ford brands. Of course, this could all change in the next hour or two as executives are usually fluent in doublespeak. Although PAG is expected to post another loss in 2006, there are some signs of improvement heading into 2007, according to Ford. As we have had to report ad nauseum, Ford recently put the pedal to the metal in its cost-cutting plans, announcing drastic cuts (more than 40,000 jobs going away) and the closing of as many as 16 plants in North America to help get them back in the black by 2009.
[Source: Motor Trend]
- Ford dropping 600 dealerships
- Ford's Accelerated Way Forward Plan details announced
- BREAKING: Ford puts Aston Martin up for sale